Africa News blog

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from MacroScope:

Big ambition for Equatorial Guinea

This week has seen a rush of key policymakers and business executives from Africa flocking to London. Apart from Sierra Leone, oil and gas executives have been discussing the outlook for Equatorial Guinea, a small central African state rich in oil.

Equatorial Guinea made a relatively rare foray into the global news earlier this month for a presidential pardon of  former British army officer Simon Mann, who was serving a 34-year prison sentence in the country for his role in a failed coup d'etat in 2004.

Gabriel Obiang Lima, vice minister of mines, industry and energy, was in London to talk about his ambition for the country. "Our aim is not to be the Kuwait of the region. It's to be the Singapore of the region," he told dozens of business executives in a conference in London on Wednesday.

"Equatorial Guinea has to have other industries that are not dependent on oil and gas."

Has Clinton visit helped offset China’s clout in Africa?

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U.S Secretary of State Hillary Clinton’s 10 day trip to Africa ends this week with many commentators viewing it at least partly as being aimed at offsetting China’s growing economic clout on the African continent.
In public, Clinton has delivered Washington’s traditional messages on the importance of fair elections and of fighting corruption and human rights abuses.

But the fact that top oil producers Angola and Nigeria are both on the tour has made clear the importance of the visit from the perspective of ensuring access to resources – an area of huge importance to China too.

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